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Shell cuts dividend for first time since WWII as oil crisis bites - Business Insider

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'It's amputation': Shell cut its dividend for the first time since World War II, the latest sign of the brutal crisis decimating the oil industry

the closer contracts moves towards expiry.

"Whilst BP chose to absorb a $6bn rise in net debt to $51bn and gearing above 36x in order to preserve its precious dividend, Shell seems to be taking a more prudent approach in cutting its dividend for the first time since the 1940s. "Our industry has been hit by supply and demand shocks on a scale never seen before," Bernard Looney, BP's CEO, Bank of America says an under-the-radar gauge of volatility is warning that the bear market is not over — and shares 2 cheap trades to protect against the next drop

 

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